Is It a Second Price Auction or a First Price Auction?

If the auction was a second price auction, i would definitely recommend that you bid your own true value. Google edwards in particular, which is one of the biggest auctions here, began with that second priced auction. We call shading this diminution of your bid from a second price to a first price. It turns out that finding the correct shading is not that easy, of and it looks like, at least in the immediate after math of a swich to a first prace auction, bitter stent to over a bit.